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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: sandiegobear who wrote (17625)	3/30/2002 10:45:14 PM
From: LLCF	Respond to of 74559

Thanks for the anecdote... parallels what I've been seeing as well. My younger friends on the other hand just assume that the market will do fine in the long run and have pretty much everything in... they are all employed at the moment although many have taken large paycuts. DAK

To: sandiegobear who wrote (17625)	3/31/2002 4:36:05 AM
From: elmatador	Read Replies (1) \| Respond to of 74559

Hi SBG! I start with the conclusion: The perception of person that the economy, government and institutions create a 'feel good effect' (FGE). FGE, is very dangerous. It drive a person to spend and not save. I have always saved. Even when there was 'nothing' to be saved, I managed to save. The perception that the interests of the state and the economy -even if the government created a mini 'economic 'miracle' on the early seventies- weren't aligned with my own interests, forced me to save. This dawned on me when I was caught -1976- with my hand in a microwave antenna 63m above ground level. The fact that I was hurt -not seriously- stopped working for 3 weeks and the knowledge that I would be in for a rough ride had I lose my capacity to work, made me another man. I remembered discovering: "Here you have to have money!" Then I started saving. I loaned money to spendthrift colleagues who made the triple of my salary. That because I got my per diem, and stayed on very simple hotels and didn't spend on any 'luxury'. You may ask: What's Elmat FGE, then? I feel good if I had implemented all that and I was right on my decision. That's my effect I've got.